Royal Gold Inc. reported record revenue of $252.1 million and record cash flow from operations of $174.0 million for the third quarter of 2025. Net income reached $126.8 million, or $1.92 per share, while adjusted net income was $136.2 million, or $2.06 per share. The company paid $29.6 million in dividends and had $775 million in debt outstanding as of September 30, 2025, with approximately $813 million in available liquidity. Gold Equivalent Ounces (GEOs) totaled 72,900 for the period. Notable business developments included the first gold delivery from the Kansanshi Mine, and the completion of the Sandstorm Gold and Horizon Copper acquisitions. Royal Gold also received 11,111 ounces of gold related to the Mount Milligan Cost Support Agreement.